EVENING. Business.

Life for sale: CNA put its life insurance and life...

March 08, 2000

Life for sale: CNA put its life insurance and life reinsurance units up for sale as part of the U.S. No. 2 commercial insurer's move to focus on turning around its core property casualty business. CNA, the insurance unit of Chicago-based financial services company CNA Financial Corp., said it hired Donaldson, Lufkin & Jenrette to assist with the sale of the life insurance operations. Analysts said the business, with annual premiums of about $1.1 billion, could fetch about $1.5 billion. Last year, CNA sold its personal auto and homeowners insurance business to Allstate Corp. for about $1.2 billion.